LIC Reports 8.27% PAT Growth for 9M FY25

Life Insurance Corporation of India (LIC) has announced its financial results for the nine months ending December 31, 2024.

Q3 FY 2025 Highlights

The Profit After Tax (PAT) for this period stood at ₹29,138 crore, reflecting an 8.27% growth compared to ₹26,913 crore during the corresponding period in 2023.

The company stated that it maintained its position as the market leader in the Indian life insurance industry, achieving an overall market share of 57.42% in terms of First Year Premium Income (FYPI), as per the Insurance Regulatory and Development Authority of India (IRDAI). However, this was slightly lower than the 58.90% market share recorded during the same period in 2023. In the individual segment, LIC had a market share of 37.21%, while in the group business, it commanded a dominant 71.70%.

Total premium income for the nine months reached ₹3,40,563 crore, a 5.51% increase from ₹3,22,776 crore in the previous year. Despite this growth, the individual segment saw a decline in policy sales, with 1,17,10,505 policies sold, down by 6.73% compared to 1,25,56,046 policies sold during the same period last year.

Assets Under Management (AUM) witnessed a robust year-on-year growth of 10.29%, rising to ₹54,77,651 crore as of December 31, 2024, from ₹49,66,371 crore as of December 31, 2023.

Management Commentary 

The CEO and MD of LIC Shri Siddhartha Mohanty, said, “Our focus and strategy remain consistent towards changing our product and channel mix to serve the needs of our customers, in a dynamic environment. For the nine months period ended December 31st 2024, the Non Par share within the individual business increased to 27.68%, on an APE basis, as compared to 14.04% for the same period last year. Further, the VNB margin has also improved to 17.1% for the nine months period ended December 31st 2024, as compared to 16.6% for the same period last year.”

He further added, “LIC continues to be committed to serving society through higher insurance coverage in the country. LIC’s Bima Sakhi Yojana, for the empowerment of women by offering them a career in insurance sales as an agent, was launched by the Hon’ble Prime Minister on 9th December 2024. Till date more than 1.25 lakh women have been registered and more than 70,000 have been appointed as Bima Sakhis. In the coming months, the outcomes of our digital transformation initiatives will be visible. We remain thankful to all our stakeholders for their support as we adapt, reimagine and realign our business to a fast-changing industry scenario.”

On February 10, 2025, LIC share price opened at ₹814.00, touching the day’s high at ₹824.80, as of 9:54 AM on the NSE.

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